The altcoin price tripled, thanks to which it took 37th place in the list of the largest digital money by capitalization with an indicator of $ 187 million
On Thursday, March 19, the average market price of STEEM altcoin increased by 200%. The capitalization of the project reached $ 187 million, according to this indicator, it took 37th place among the largest cryptocurrencies. The asset value rose amid the announcements of the Hive hard fork, which will take place tomorrow, March 20. After the update, coin holders will be able to receive new tokens in an equal volume.
Binance was the first to announce support for the hard fork, followed by Huobi and Bithumb. At the same time, all trading platforms did not guarantee the listing of the new HIVE cryptocurrency. The companies promised to assess the project on general terms and then make a decision.
Sharp fluctuations in the value of low-liquid assets can result from the use of the "Pump & Dump" scheme. It is widespread in the blockchain industry due to lack of regulation.
Last December, the Ethereum Meta token price jumped 1934% in 24 hours. At the same time, the daily trading volume of the asset was only $ 87. The startup did not make any announcements, and its social media accounts have been inactive since October.